Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 3.4 Billion | USD 6.5 Billion | 8.5% | 2022 |
FrequentlyAsked Questions
TCMS stands for train control and management system which is nothing but a train-borne distributed control system. It provides the provision of data communication between other telecommunications and train-borne systems so that the systems are supported that are operating remotely. Owing to its functionality it is also known as the brain of the train as it manages and monitors different systems and coordinates their control. The TCMS provides the prime functionality of delivering integrated diagnostic and prognostic capabilities on the train and offers visualization of the problematic areas, the performance of the system, and suggests corrective actions that can assist the driver or the maintenance personnel.
The TCMS market growth can be attributed to the factors such as the increased trend in the utilization of automated metros and high-speed trains, strict protocols regarding the emission of diesel, and urbanization. The factor that people now prefer safe, speedy, and comfortable transportation has boosted the TCMS market positively. The government is also taking initiatives and investing in the rail infrastructure so that railway transportation is increased, thus boosting the TCMS market.
According to the report, the global market size was worth around USD 3.4 billion in 2022 and is predicted to grow to around USD 6.5 billion by 2030.
The global TCMS market is expected to grow at a CAGR of 8.5% during the forecast period.
The global TCMS market growth is expected to be driven by Europe. It is currently the world’s highest revenue-generating market owing to the increasing investment in rail infrastructure.
The global TCMS market is dominated by players like ABB, Alstom S.A, Aselsan A.S, Bombardier Inc, CAF, Construcciones y Auxiliar de Ferrocarriles, S.A., China Railway Signal & Communication Corporation Limited, DEUTA-WERKE GmbH, EKE-Electronics Ltd, Hitachi Ltd, Knorr-Bremse AG, Mitsubishi Electric Corporation, Siemens AG, Strukton Rail AB, Thales Group, and Toshiba Corporation among others.
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